CategoriesBlog, Local Information, Moving Tips

Should You Hire a Real Estate Agent To Find Your Perfect Property?

A real estate agent helps in taking the buyer to the right seller by finding a home that fits the buyer’s budget and lifestyle needs, helps in making an offer, negotiations, home inspection and closing the deal. Though it is not necessary for a buyer or a seller to hire a real estate agent, not hiring one could be a risky bet for either party. Both buyers and sellers can save some money by not hiring an agent since they would not have to pay any commission, but this might cause a number of difficulties. Let’s have a look at some of them.

1. Understanding the neighborhood
If you do not hire an agent, you may not be able to assess everything about your chosen neighborhood all by yourself. Most of the time, the sellers do not disclose the negative aspects of their area, and a real estate agent could come in very handy at this time. As an example, if you do not want to live in a very quiet and peaceful area, then your agent would tell you that you should choose to stay in Dallas or Allen.

2. Relocating to a new city
If you are moving to a new city altogether, then either you may not know much about the place, or you would take a long time to gather all the information. Hiring a local real estate agent can be very beneficial in such a situation. For example, when moving to Texas, you may be confused about staying in Frisco, McKinney or Prosper. An agent would be able to inform you about the pros and cons of each area, and this would help to simplify your selection process to a great extent.

3. Contacting the property owner
When buying a house in Plano or Dallas, you would have to get in touch with multiple sellers multiple times in order to know more about the property, inspect the house and continue till you close the deal. It can be quite a tedious task to coordinate with the sellers for everything, and if this task is done by an agent for you, it would save you a lot of time and effort.

4. Documentation and Financial matters
If you are new in the real estate business, then you may get overwhelmed with the legal requirements and documentation that is involved in buying or selling a house. Since the real estate agents do it on a daily basis, they are well versed with it and can be of great help in order to simplify and execute the entire process for you.

5. Looking for a single-family home
There is a high demand for single-family homes, and if that is what you are looking for, then be assured that you would have a hard time because the supply is immense, and making a choice can get extremely difficult. In such a scenario, a real estate agent who has access to multiple listing services can help you in making that choice easily.

6. Getting a good mortgage rate
Real estate agents have a very good idea of the best lenders available in all areas, be it McKinney, Prosper or Plano. They can help you in getting the lowest mortgage rate available, and this would significantly reduce your purchase cost. Moreover, if you are looking at buying a new construction house, then the agent can also negotiate with the builder’s lender on your behalf, and tell you if you should choose your lender or the builder’s lender.

Despite all the benefits of hiring a real estate agent, you should know that there is a cost involved in the same, and it can vary from city to city and locality to locality. Also, sometimes the cost is paid only by the seller, and sometimes it is shared by both the buyer and seller. Thus, make sure that you take all these factors into account when you start looking to buy or sell a house in Texas. 

CategoriesBlog, Local Information, Moving Tips, North Texas Luxury Living

Truths a Seller Should Not Share With The Buyers When Selling Their Home

Though the only right thing to do as a home seller is to disclose everything about the house to the buyer so that the buyer does not face any unforeseen issues, it is also important for the seller to understand that there are some things which he should not openly talk about.

In cases where an agent is involved, in any case, the seller does not have to meet the buyer directly. However, the seller could be living in the house which is up for sale and could come in contact with the buyer directly at the time of house inspection. In such a situation, buyers tend to ask some questions directly to the sellers, such as “Why do you want to sell your Plano home?”, or “How long have you been trying to sell your home in Prosper?” If as a seller you are not mindful in answering these kinds of questions, then it can lead to the buyer undermining your property value and in turn having a stronger hand when it comes to negotiating the final price.

Thus, let us look at the things that you should not discuss with a potential buyer:

1. How long has your house been in the market

This information is usually already available to the buyer at the time of shortlisting the house, but you should bring this as a topic of discussion because if your house has been on sale for a long time, it might give an impression to the buyer that you are desperate to sell or there is something wrong about the house that he is not aware of.

2. Reason for selling your house

Whatever is the reason for which you want to sell your house, be it personal or financial; you should not discuss it exclusively with the buyer. As an example, if you live in Allen but want to move to Frisco, and if your buyer is new to Texas, he might think that there is some problem with Allen and decide to not purchase a house there.

3. Talking about the neighborhood

Do not talk much about the neighborhood that you are living in. Some people like to live in places with an active nightlife such as Dallas, whereas some like a more peaceful place. Thus, disclosing too much about the area can make the buyer not like it altogether.

4. How soon are you moving

You might be willing to move to your new house in McKinney as soon as possible, but you should never inform your buyer about this, because he would then think that you are desperate to close the sale as soon as possible, and thus this would reduce your negotiating power.

5. How many offers have you received

You might have received many offers for the purchase of your house, or you may not have received any. The important thing is that this information should not be given to the buyer. The buyer is looking for the best deal, and if he gets to know that he’s the only one who has given an offer to you, he would not be willing to negotiate much from his offered price.

6. Being too rigid about the price

Do not give the impression that you are not flexible about the price that you have offered for the sale. Buyers like to negotiate, and they should get a feeling that they have cracked the best deal with you. You should come out as someone reasonable and realistic.

7. Things that might be wrong with the house

There could be some repair or maintenance work that is pending in your house and you’ve not been able to get it completed. These things should not be disclosed to the buyer because then he might ask you to get them completed before the sale or reduce the price offered by an amount equivalent to the cost of the repair. In either situation, you would lose financially.

The bottom line is that anything that you say can be used against you. Thus, one of the best things to do to avoid such situations is to hire an agent, and just ask the buyer to speak with your agent directly.